The participation of China in imports of USA collapsed at its lowest level In more than two decadesreaching only 7.1% in May, according to commercial data published Thursday by the United States Census Office.
This figure represents A 4.3 points drop compared to the same period of the previous year and mark the continuation of A descending trend that began during the first mandate of President Donald Trump.
Anyway, in September 2024 China still represented 14.8% of American importswhich accounts for the speed with which this reconfiguration of commercial relations between the two countries occurred.
So, The current fall places China in its weakest position in the US market since 2001the year in which the country entered the World Trade Organization (WTO).
The opportunity for Taiwan and Vietnam
The emptiness left by China in the US market soon to fill. China’s neighboring countries in Asia, especially Taiwan and VietnamThey experienced remarkable growth in their exports to the United States.
Taiwan represents almost 6% of American imports of goods in May, a significant jump from 3% registered in 2023. This expansion was mainly driven by The growing demand for semiconductors related to artificial intelligencea sector in which the island maintains a dominant position.
Vietnam also reached 6% stake in imports Americans during May, doubling their participation with respect to 2023. However, Vietnamese growth presents certain complexities, since it was driven both by forwarding from China and by products manufactured locally with Chinese components.
Negotiation with Vietnam
This “commercial triangulation” strategy did not go unnoticed by US authorities. This Wednesday, the president of USA, Donald Trumpannounced the signing of a New commercial agreement with Vietnam.
The pact establishes a 20% tariff About the Imported products directly From that Asian country, as well as a 40% About those Vietnamese merchandise that arrive in the US through third countries. In return, The United States will obtain “total access” to the Vietnamese market.
Vietnam It was among the nations more harmed by tariff measures imposed by Trump in April, facing initially a 46% tax About its exports.
Source: Ambito
